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Pasofino Gold Limited reports developments tied to its mineral exploration business and the Dugbe Gold Project in Liberia. The Canadian-based company is listed on the TSX Venture Exchange and trades in the U.S. under EFRGF; through a wholly owned subsidiary, it owns 100% of the Dugbe Gold Project before issuance of the Government of Liberia’s carried interest.
Company updates commonly cover exploration work at the Dugbe F and Tuzon deposits, feasibility-study and gap-analysis work, Mineral Development Agreement matters with Liberia, project financing and capital-structure updates, annual financial statements, and shareholder meeting results.
Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) has adopted a shareholder rights plan effective November 1, 2024. The plan aims to protect shareholders during the company's strategic alternatives review process and ensure fair treatment in takeover scenarios. Under the plan, one right attaches to each common share, becoming exercisable if any party acquires 20% or more of shares without following 'Permitted Bid' provisions. In such cases, shareholders can purchase additional shares at a significant discount. The plan requires shareholder ratification within six months and will terminate if not approved.
Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) has announced results from its maiden diamond core drilling at the Bukon Jedeh 'gold camp' within the Dugbe Gold Project in Liberia. Highlights include:
- 8 out of 11 holes reached target depth with gold mineralized intervals
- BKDD001: 21.3m with an average grade of 0.9 g/t Au from 53.5m downhole
- BKDD004: 4.0m with an average grade of 2.1 g/t Au from 46.5m downhole
- BKDD011: 2.5m with an average grade of 2.2 g/t Au from 43.5m downhole
The company plans to focus future exploration on the western area of Bukon and the DSZ target, which is 4 km from the Tuzon deposit and yielded 36m at an average of 0.6 g/t Au in a previous channel cut.
Pasofino Gold has completed a diamond core drilling program at the Bukon Jedeh 'gold camp' within its Dugbe Gold Project in Liberia. The program tested 11 holes totaling 1,328 meters. The drilling targeted various sites, including historic intersections and new promising intervals. Notably, a 1.5 km long east-west zone, named SPMC-99 Steps trend, was identified. The drilling was completed on time and within budget, with sampling 50% complete and results expected in July 2024. Several intervals show multi-meter-wide zones of sulphide minerals, potentially indicating gold presence. The company maintains positive relations with local communities, supporting the successful execution of the project.
Pasofino Gold has announced the appointment of Warren Greenslade as interim CEO, replacing Dr. Daniel Limpitlaw. Dr. Limpitlaw will remain as a consultant, focused on providing technical support for the Dugbe Project. Greenslade, currently the Country Manager for Liberia, brings 15 years of project and operational management experience, including roles in Bosnia, the Middle East, and Africa. His previous experience includes positions with Chevron Oil and managing mining projects in Ghana, DRC, Guinea, and Gabon. The company aims to appoint a permanent CEO with a strong mine development track record as the Dugbe Project progresses.
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